Notifications & Messages

Jared Hamilton
From: Jared Hamilton
Hey - It’s time to join the thousands of other dealer professionals on DrivingSales. Create an account so you can get full access to the articles, discussions and people that are shaping the future of the automotive industry.
×
Jordan Perch

Jordan Perch Chief blogger

Exclusive Blog Posts

My Dealership Story - Kristy Elliott

My Dealership Story - Kristy Elliott

Meet Kristy Elliott, the Dealer Operator at Sunshine Chevrolet and check out her dealership story. Learn how Kristy came from the non-profit world to …

Start With Why - David Mead at DrivingSales Presidents Club

Start With Why - David Mead at DrivingSales Presidents Club

DrivingSales was so excited to have David Mead as a keynote speaker during Presidents Club. David works at the Start With Why foundation with Simon Sinek, …

You Have a Position to Fill – Who Do You Hire?

You Have a Position to Fill – Who Do You Hire?

As much as you try to avoid employee churn, you’ll always need to hire someone. It might be to replace a staff who’s moved on in their care…

6 Tips for Better LinkedIn PPC Advertising

6 Tips for Better LinkedIn PPC Advertising

With a little over a year’s experience with LinkedIn Advertising and some insights from a connection at LinkedIn, I’ve put together a list of 6…

The 3 Laws of Extreme Ownership

The 3 Laws of Extreme Ownership

“These are all things that may help you justify your results. But is your dealer any happier because of this?” I just finished reading a…

Specifics About Boat Insurance

There are various types of insurance available for boaters. What most boat insurance policies cover is bodily injury liability, property damage liability and physical damage.

Bodily injury liability coverage refers to medical bills expenses for threating injuries to other people that have occurred in an accident you have caused while operating your boat.

Property damage liability refers to damages you inflicted to other property that you caused with your boat. Other property can include another boat, a dock or any other structure you might have a collision with.

Physical damage covers damages that your boat may suffer. It can be damaged by wind or rain, fire, as a result of a collision with a dock, and this coverage mostly refers to damages occurred while the boat is in the water, so you should ask additional coverage if you want the boat to be insured while on land or while it is being transported.

There are three ways for you to get paid for these damages: agreed value, actual cash value or replacement cost.

An agreed value settlement means that the amount you will receive has already been agreed upon when the policy was purchased.

Actual cash value will pay the current market value of your boat, but with depreciation and the overall condition of the boat at the time of the accident taken into consideration.

Replacement cost is a coverage that will replace your boat with a new boat of the same type.

Other additional coverages that might want to purchase include medical payment coverage and uninsured boat coverage. Medical coverage pays for ambulance and hospital costs in case you or anyone else on your boat gets injured. Uninsured boat coverage refers to injuries that are caused to you by another boater who doesn't have boat insurance.

In terms of what an average boat insurance policy costs, it's around $400, but it depends on the boat's size and age.

Jordan Perch is an active promoter of the new developments in the automotive industry. He is an author of many how-to articles related to safe driving, buying/selling vehicles, auto insurance etc. He is currently managing the blog of the resourceful DMV.com.

 Unlock all of the community & features  Join Now